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Inflation update: How Adani-Hindenburg saga can impact hike in vegetable, food prices in India
The Adani-Hindenburg saga made headlines earlier this year, with many fearing that the future of the Adani Group can have a major impact on investors and inflation in India.
Updated : Feb 28, 2023, 11:18 AM IST | Edited by : Vaishnawi Sinha
 "Inflation update: How Adani-Hindenburg saga can impact hike in vegetable, food prices in India")
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The tussle between Adani Group and Hindenburg Research began when a financial report was released by the latter regarding the alleged mishandling of funds by the Adani Group. Due to the massive worth and investment of SBI and LIC in the firm, many have been afraid that they will suffer a major loss in their investments.
Now, questions are being raised if the Adani-Hindenburg saga can impact the prices of vegetables, and food items and in general cause inflation in the Indian economy. Now, a veteran banker has weighed in on the matter of the Adani Group issue in the economy.
Veteran banker KV Kamath weighed in on the Adani Group saga with Hindenburg research, which gave a clear hint that it is not likely to spike inflation in India because one group is unlikely to influence the entire economy of a country.
In an interaction with CNBC TV18, KV Kamath talked about how the measurement of inflation can spark concern in some areas. The veteran banker said, “We need to understand, are we measuring it (inflation) right? One would need to look at CPI and other indicators, with more focus to understand in detail.”
The food prices and inflation in India are likely to remain uninfluenced by the Adani Group saga after the Hindenberg report, as hinted by KV Kamath. Without being too elaborate on the issue, the banker said that one group cannot influence the nation with a large impact.
Referencing the Adani Group, the veteran banker said, “There is no crisis of confidence in India. No single group carves out the destiny of the nation.” He also said, “Right time to rethink the connection between interest rates and inflation by breaking down the components and inflation and what medicine is required.”
The shares of Adani Group, owned and run by businessman Gautam Adani, took a major hit after the Hindenburg Research report alleged mishandling of funds by the industry. The net profit and share prices plummeted, and the net worth of Gautam Adani also took a hit and recovered gradually.
